Prices
2022, June, 3, 12:40:00
U.S. OIL INVENTORIES DOWN BY 5.1 MB TO 414.7 MB
U.S. commercial crude oil inventories decreased by 5.1 million barrels to 414.7 million barrels.
2022, June, 2, 11:55:00
OIL PRICE: BRENT NEAR $116, WTI ABOVE 112
Brent was down $2.07, or 1.8%, at $114.22 a barrel, WTI dropped $2.21, or 1.9%, to $113.05 a barrel.
2022, June, 2, 11:50:00
OPEC OIL PRICE: $122.94
The price of OPEC basket of thirteen crudes stood at $122.94 a barrel on Tuesday,
2022, June, 2, 11:40:00
RUSSIA SANCTIONS SPLIT
Another group of officials, many based at Janet Yellen’s Treasury Department, worry about further strains on a global economy already suffering from supply-chain woes, inflation, volatile oil prices and a potential food crisis.
2022, June, 2, 11:35:00
OPEC + RUSSIA STRENGTHENING
Meanwhile those with spare capacity – primarily Saudi Arabia and the UAE – have held off on breaching their quotas to maintain OPEC+ unity rather than spark a market share battle.
2022, June, 1, 11:00:00
OIL PRICE: BRENT NEAR $117, WTI NEAR $116
The Brent contract for July delivery expired on Tuesday at $122.84 a barrel, up 1%, WTI rose 37 cents, or 0.3%, to $115.04 a barrel.
2022, June, 1, 10:55:00
RUSSIA SANCTIONS $285 BLN
Even with some countries halting or phasing out energy purchases, Russia's oil-and-gas revenue will be about $285 billion this year, according to estimates from Bloomberg Economics based on Economy Ministry projections.
2022, June, 1, 10:50:00
EUROPEAN BAN ON RUSSIAN OIL
First proposed on May 4, the EU's sixth sanctions package against Russia was designed to ban its crude imports into the bloc within six months and halt flows of its oil products by the year-end to help hit Moscow's oil revenues.
2022, June, 1, 10:45:00
OPEC EXPLORING THE IDEA
Oil still posted its longest run of monthly gains in more than a decade.
2022, June, 1, 10:40:00
RUSSIAN OIL FOR CHINA UP AGAIN
In late April, Urals cargoes for late May or early June delivery were trading at a discount of around $5-6/b to benchmark ICE Brent crude futures on a DES Shandong basis,
2022, June, 1, 10:35:00
RUSSIAN OIL FOR INDIA UP
While many Western buyers are avoiding Russian crude in response to its invasion of Ukraine, Indian private refiners such as Reliance and Nayara have been among the biggest buyers this year of discounted Russian supplies.
2022, June, 1, 10:30:00
EUROPE ISN'T WITHOUT COAL
The war in Ukraine has triggered a scramble among some countries to buy more non-Russian fossil fuels and burn coal to cut their reliance on Russian supplies.
2022, May, 31, 13:40:00
OIL PRICE: BRENT NEAR $124, WTI NEAR $119
Brent rose $2.31, or 1.9%, to $123.98 a barrel, WTI crude was trading at $119.34 a barrel.
2022, May, 31, 13:35:00
OPEC OIL PRICE: $120.01
The price of OPEC basket of thirteen crudes stood at $120.01 a barrel on Monday
2022, May, 31, 13:05:00
EUROPE BANS RUSSIAN OIL
"The sanctions will immediately impact 75% of Russian oil imports. And by the end of the year, 90% of the Russian oil imported in Europe will be banned," Michel said in a tweet after a summit meeting.